Copper (Cu) - Gold (Au) Porphyry
The Rabbit North project comprises 34 mineral tenures covering 16,400 hectares that are an amalgamation of claims under option from private individuals (2850 ha) and 100% owned ground acquired through staking. Under the terms of the option agreement dated July 11, 2013, Tower can earn 100% interest in the project subject to a 3% NSR.
The Rabbit North project is strategically located 14 km southwest of the producing New Afton copper and gold mine (New Gold Inc.), and 27 km northeast of the producing Highland Valley copper mine (Teck Resources Ltd.)
The property is road-accessible, and exploration is possible on the project year-round.
Geology and Historic Exploration
The project is situated in the richly metal-endowed Triassic-Jurassic island arc-related Quesnel Terrane, a significant and economically proven porphyry belt in British Columbia.
Alkalic porphyry related mineralization and alteration at the Rabbit North property is documented in two host rock types; the three by two kilometer Late Triassic to Early Jurassic zoned alkaline intrusion termed the Durand Stock, and the intrusion's volcanic country rocks assigned to the Upper Triassic Nicola Group. The age of the Durand Stock is of comparable age to both the Guichon and Iron Mask batholiths, which host the Highland Valley and New Afton mines respectively. Copper mineralization within the Durand Stock is characterized by disseminated and blebby chalcopyrite +/- pyrite; mineralization hosted in the Nicola volcanics is dominantly characterized by disseminated, blebby and vein/fracture fill chalcopyrite and pyrite (+/- bornite) associated with varying degrees of sodic, potassic and inner propylitic alteration.
Historical exploration on the property was completed by major companies such as Kennco, Noranda and Cominco in the 1960s and 1970s and by junior companies such as ProAm Exploration and Auterra Ventures in the late 1990s and early 2000s. These programs consisted of shallow diamond drilling, percussion drilling, soil and organic geochemistry and various geophysical programs. Collectively, the historical work outlined a number of underexplored and/or undrilled porphyry related targets.